patrick.net

People keep looking at the March and April numbers which are irrelevant. Probably will be for a few more months even with this.

After all: So many don't need to pay rent or mortgage lol gag cough ha ha..

just_dregalicious says

People keep looking at the March and April numbers which are irrelevant.

100% correct sir. Data should reveal more in 2nd half of the year.

https://www.zillow.com/home-values/

Those pending sales numbers correlate pretty well with the job loss numbers. This MacroGuru guy claiming buyers are walking away and losing deposits makes it pretty clear they don't know what they're talking about. A pending sale might get cancelled because the seller can no longer sell because of the current situation. I've also never seen a person lose a deposit in 13+ years in the industry, especially voluntarily.

Not you Patrick, but the guy doesn't know what he's talking about. The data may be correct, but the analysis is shit.

Newbie123 says

Purchase application data (forward looking indicator) made quite the comeback. Up 9% YoY.
Inventory here in SoCal is crazy low. Expected market time points to a sellers market.

As much as I hate to admit it, this is correct. The pending sales can come back in the future. As long as there's not a shit load of defaults and a massive increase in inventory, pending sales don't mean much long term without a long term trend. Even a record drop doesn't mean much. Not a whole lot of people right now have to sell. They take the house off the market and try again later.

How the hell do we sell a house when the house is NOT allowed to be shown when someone lives there due to Rona?

With that said, we made out like bandits with our flip. The day we went into contract was the day that CA announced SIP 3/17. We closed 16 days later. If you have the right product, the house will sell. Simple as that. Zerohedge writes nothing but garbage and fear mongering.

https://www.google.com/amp/s/www.redfin.com/CA/Oakland/3131-Boston-Ave-94602/home/1803404/amp

Congrats on that close E-man. That's quite the transformation.

ad says

E-man says

https://www.google.com/amp/s/www.redfin.com/CA/Oakland/3131-Boston-Ave-94602/home/1803404/amp

Bought for $355,000 in August 2019
Sold for $700,000 recently

@E-man

How much did you invest in the home such as repairs and modernization ? What were your closing costs ?

I see property taxes were about $6500.

.

How sad, what are we going to do with all these unemployed Realtor's?

MAGA says

How sad, what are we going to do with all these unemployed Realtor's?

I know here in the Florida panhandle most of them are retirees working as real estate agents, or selling real estate is a hobby or small part time job.